Apply for a Loan
What's the Difference Between Subsidized and Unsubsidized Loans?
Subsidized Loans
If you demonstrate need for a portion or all of the annual limit will receive a subsidized loan and the federal government will pay the interest for the period of time in which you are eligible for an in-school deferment.
However, do not demonstrate need for part or all of the annual borrowing limit may still receive an unsubsidized loan and pay your own interest during the time you are in-school. The annual limit for a student in the first year of undergraduate study is $9,500, prorated for the program length.
Annual Borrowing LimitsThe annual limit for a student in the second year of study is $10,500. Repayment begins six months after the borrower graduates, withdraws from college, or drops below half-time status. |
Additional Information
Steps to Access Offered Loan Funds
- Log in to MyPortal.
- Navigate to the Financial Aid Accept Award Offer tab.
- Apps > Financial Aid app > Awards > Award for Aid Year > Select Aid Year > Accept Award Offer.
- Select either "Accept" or "Decline" from the dropdown menu next to each loan type you've been offered.
- Click on the "Submit" button at the bottom of the page.
If you've never received federal student loans through Foothill before, you will need to complete Loan Entrance Counseling at StudentAid.gov.
If you do not have an active Federal Direct Loan Master Promissory Note (MPN) on file with the Department of Education, you will need to complete one at StudentAid.gov. If you need to complete an MPN, you will receive an email from the Foothill Financial Aid Office to let you know when it is available.
While you don’t have to be a full-time student to receive financial aid, taking more units does mean more money if you qualify for federal and/or state grants.
Please Note: Financial aid amounts are subject to change.
FAQS About Loans
- Review common additional answers to questions about taking out federal student loans.
- Find FAQs about the FAFSA process from Federal Student Aid department.
- IRS Data Retrieval Tool Information.
- Federal Student Aid answers and information for parents of students.
- Special Circumstances and how to deal with them in terms of financial aid.
Before taking out your first loan, you must complete an entrance counseling online that explains your rights and responsibilities as a borrower.
Once you take out a loan, it is important that you keep your college informed of any changes in your address or enrollment plans.
Before you leave college (including withdrawing, transferring or graduating), you should complete an exit interview online which will cover your payment obligations and the number of options available to you as a borrower.
If at any time you have questions regarding the repayment of your loans, contact your lender or the Financial Aid Office.
Because of the limited gift aid available, students are usually offered one or more educational loans. Although loans are helpful in meeting the cost of education, they must be repaid with interest.
Therefore, carefully consider the amount you are borrowing. Remember, the amount you borrow this year will be added to other loans you have or will be taking out in the future. You may want to look at your budget and see if there are ways you can minimize your borrowing.
Also, consider the differences in loans, such as the interest rate, when that rate is assessed, the amount you'll be borrowing and repayment options.
Parents will only be responsible for your educational loans if you are under 18 and they co-sign your loan. In general, though, you and you alone are responsible for repaying your educational loans.
Not immediately. The subsidized Stafford loan has a grace period of 6 months before the student must begin repaying the loan.
When you drop below half-time enrollment you will not have to repay your loan until the grace period is used up.
If you use up the grace period, however, when you graduate you will have to begin repaying your loan immediately.
It is possible to request an extension to the grace period, but this must be done before the grace period is used up.
If your grace period has run out in the middle of your leave of absence, you will have to start making payments on your student loans.
Contact UsFinancial Aid OfficeBuilding 8100, Room 8101(650) 949-7245 fhfinancialaidoffice@fhda.edu |
Financial Aid Office Hours
Mon – Thur: 8 a.m. – 5 p.m. (In Person) |
